During the 2023 General Session, the Utah Legislature allocated $4.5 million to the Governor's Office of Economic Opportunity to administer the Economic Assistance Grant (EAG) program. This grant is a one-time, project-based funding opportunity.

The EAG assists Utah businesses that promote and support economic opportunities in the state and provide a service related to industry, education, community development, or infrastructure.

For this grant, a business is defined as a for-profit or nonprofit entity. Government entities are not eligible to apply. To qualify for this grant, an applicant's principal place of business must be in Utah, and the applicant must be registered and in good standing with the Utah Division of Corporations and Commercial Code.

Based on the categories stated above, examples of eligible business applicants include:

Industry

Businesses, associations, and nonprofits related to Utah’s five targeted industries: Advanced Manufacturing, Aerospace & Defense, Financial Services, Life Sciences & Healthcare, and Software & IT.

Education

Educational businesses, associations, and nonprofits – not a part of Utah’s public education system – that support and serve alternative learning, special education, technical education, and trade schools.

Community Development

Businesses, associations, and nonprofits related to neighborhood development, affordable housing, rescue missions and food pantries, coworking and innovation centers, and chambers of commerce.

Infrastructure

Businesses and nonprofits related to improving roads and trail systems, transportation and product distribution, and extension of infrastructure and services to remote businesses and populations.

Priorities

Priority may be given to businesses with projects that:

• Develop one or more of Utah’s five targeted industries
• Contribute to job creation or retention
• Identify clear metrics that will be used to measure success
• Demonstrate comprehensive planning of the project
• Leverage other funding sources and/or propose the use of matching funds
• Have sound organizational and project budgets
• Can be completed within 18 months

Funding Tiers

Funding tiers are set to encourage applications from businesses of all sizes, with project budgets and grant requests both small and large. 

Tiers for the EAG include:

• Tier 1 – For grant requests up to and including $20,000
• Tier 2 – For grant requests greater than $20,000, up to $50,000
• Tier 3 – For grant requests greater than $50,000, up to $100,000
• Tier 4 – For grant requests greater than $100,000, up to $200,000

Grant proposals in each tier will only compete with other proposals within the same tier. For example, a business requesting funding between $20,000 and $50,000 (Tier 2) will not compete with a business requesting funding between $100,000 and $200,000 (Tier 4). 

Requests exceeding the award limit amount will be considered. However, prospective grantees may be required to amend the award amount and scope of work according to the award ceiling set by the office.

The application portal opened on Sep. 7, 2023, at 9 a.m. MDT and closed on Sep. 21, 2023, at 5 p.m. MDT.

For questions regarding this funding opportunity, email econgrants@utah.gov and include “Economic Assistance Grant” or “EAG” in the subject line.